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Word Count: 710
Overview Because of chinas want for rapid economic growth it has changed its structure of the state owned enterprises not only the enterprises but also the whole economy due to this change the unemployment rate has sky rocketed Although chinas economist expect that 2 to 3 million jobs will be created through Chinas entry to WTO world trade organization But through that process of entry the change again will create more jobs lost then created Statistics Urban unemployment rate approaching 10 at 2001 Between 1998 and 2001 state owned enterprises is responsible for firing 255 million workers now 168 million of those workers have been reemployed Chinas 2001 position include 175 million workers have been laid off by state owned enterprises expecting to rise to 20 million by the end of 2003 3000 large and medium sized state owned enterprises would hit bankruptcy within 2 to three years The entries to WTO will double the official urban unemployment rate over the next few years making around 30 million unemployment boost An increasing downward trend in employment although the GDP has not decrease rapidly 1998 GDP up 78 unemployment rate 64 1999 GDP up 71 unemployment rate 74 2000 GDP rate increase 8 unemployment rate 82 2001 BDP rate increases 75 unemployment rate 93 2002 BDP rate increases 80 unemployment rate 99 2003 BDP rate increases75 and unemployment rate of 102 Reason for unemployment problems Entering to the WTO means that we have opened up our markets for competitors different sectors of Chinese firms will be differently effected depending on their efficiency and importance the disadvantaged industries include the natural resource-intensive industries capital-intensive industries and technology intensive industries other industry such as the labour intensive industry will be in big advantage Local enterprises although have the chances to make it internationally But chances are often because of the technologies of China it will be disadvantaged will be kicked out by its international competitors leaving
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